http://pitchandship.com News about direct response, network television and affiliated e-commerce Thu, 02 Feb 2012 21:01:07 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 http://pitchandship.com/2009/02/25/saks-earnings-the-latest-sign-of-trouble-for-luxury-retail/ http://pitchandship.com/2009/02/25/saks-earnings-the-latest-sign-of-trouble-for-luxury-retail/#comments Wed, 25 Feb 2009 15:11:49 +0000 admin http://pitchandship.com/?p=623 [...]]]> “The retailer, which operates Saks Fifth Avenue, said Wednesday that it lost $98.75 million, or 72 cents a share in the quarter ended Jan. 31. That compared with a profit of $39.47 million, or 26 cents a share, in the period a year ago.”  Same-store sales dropped 15 percent in the fourth quarter compared to the year-ago period.  Earnings season also brought a sign of trouble at the discount end of retail.  TJX Companies, which operates T.J. Maxx and other discount stores, reported a drop in net income to $250.7 million, or 58 cents a share, from $301.1 million, or 66 cents a share, a year earlier.  The New York Times Feb. 25, 2009

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